Statute · United States Code
12 U.S.C. § 5394 — Prohibition on taxpayer funding
12 U.S.C. § 5394
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2026-10-22
(a) Liquidation required All financial companies put into receivership under this subchapter shall be liquidated. No taxpayer funds shall be used to prevent the liquidation of any financial company under this subchapter. (b) Recovery of funds All funds expended in the liquidation of a financial company under this subchapter shall be recovered from the disposition of assets of such financial company, or shall be the responsibility of the financial sector, through assessments. (c) No losses to taxpayers Taxpayers shall bear no losses from the exercise of any authority under this subchapter.
Citator
12 U.S.C. § 5394 — Prohibition on taxpayer funding is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Liquidation required All financial companies put into receivership under this subchapter shall be liquidated. No taxpayer funds shall be used to prevent the liquidation of any financial company under this subchapter. (b) Recovery of funds All funds expended in the liquidation of a financial company under this subchapter shall be recovered from the disposition of assets of such financial company, or shall be the responsibility of the financial sector, through assessments. (c) No losses to taxpayers Taxpayers shall bear no losses from the exercise of any authority under this subchapter.